On January 1, a company purchased 4%, 15-year corporate bonds for $49,062,045 as an investment. The bonds have a face amount of $75 million and are priced to yield 8%. Interest is paid semiannually. Prepare a partial amortization table at the effective interest rate on June 30 and December 31.

Period-End	Cash Interest Received	Bond Interest Revenue	Discount Amortization	Carrying Value
January 1				49,062,045
June 30
December 31

Prepare the journal entries necessary to record revenue at the effective interest rate on June 30 and December 31.